CREAMFINANCE

Today, Creamfinance, a leading consumer finance provider and the fastest-growing
European fintech
, announced the closure of a €21 million deal in
Series B financing with Capitec Bank Holdings Limited (“Capitec”). This
round follows a €5 million in Series A investment from international
venture capital fund Flint
Capital
. Capitec is listed on the South African stock exchange and
is the parent company of Capitec Bank that played a major role in
revolutionizing banking in South Africa. The funds will be used to
accelerate the company’s international expansion and introduction of a
full product portfolio in existing markets. Following the investment,
Capitec will nominate up to two directors on Creamfinance’s board.

"Given their expansion and focus on operational excellence, Creamfinance
has emerged as a leading personal finance provider in Europe”, said
Gerrie Fourie, CEO of Capitec. “We are impressed by Creamfinance’s focus
on Smart Data scoring and its business model which was developed in such
a way that new countries can be entered swiftly and efficiently,
requiring limited investment in local infrastructure”.

Creamfinance anticipates that the investment will allow the company to
expand even more rapidly and will facilitate delivery on their world
mission to make finance more accessible.

"We are excited about this investment from a leading bank that, like
ourselves, emphasizes technology and operational efficiency and the
acknowledgements of our ability to scale fast", said Matiss Ansviesulis,
Co-Founder & CEO of Creamfinance. “This investment also marks a
potential new beginning in fintech and banks‘ cooperation, especially
since so many hold opposing views“.

About Creamfinance

Consumer finance services provider Creamfinance was founded in 2012 in
Latvia and has achieved consistent growth gaining top 3rd
– 5th
position in each of the operating markets. The company is currently
operating in six countries both within and outside of Europe. Utilizing
advanced smart
data
algorithms and machine-learning capabilities to quickly
evaluate and score, Creamfinance offers a highly customized approach to
the personal loan process in a speedy and reliable manner and aims to
become a one-click loans provider to consumers globally.